The Centre for Policy Scrutiny (CPS) has backed calls for an independent investigation into reported losses of US$1.7 billion, equivalent to approximately GH¢22 billion, under Ghana’s Domestic Gold Purchase Programme (DGPP).

The policy think-tank says the reported losses are a matter of significant public interest and must be subjected to a comprehensive, transparent and evidence-based inquiry to establish how the losses were incurred and who bears responsibility.

In a statement, the CPS welcomed a fresh motion by the Minority in Parliament seeking an inquiry into the matter and specifically endorsed Minority Leader Alexander Afenyo-Markin’s call for an Ad Hoc Committee to investigate the reported losses by GoldBOD.

The Centre says the parliamentary inquiry must go beyond the reported figure and examine the transactions, institutions and financing arrangements underpinning the DGPP.

It wants the investigation to establish the exact nature and source of the reported US$1.7 billion losses, identify the transactions that generated them and determine the basis on which the figures were calculated.

The CPS is also calling for the respective roles of the Bank of Ghana (BoG) and GoldBOD in implementing the programme to be thoroughly examined, including their responsibilities, financial exposures and the manner in which related transactions were accounted for.

According to the Centre, the inquiry must further determine whether the DGPP has delivered value commensurate with the resources committed to it, particularly given its potential implications for Ghana’s foreign-exchange reserves and public finances.

The CPS is advocating a bipartisan and transparent process anchored in documentary evidence.

It says the proposed committee should rely on audited accounts, transaction records, contracts and other relevant documents rather than political claims or competing narratives.

“The investigation should remain transparent, evidence-based and bipartisan,” the Centre stressed.

The CPS believes the parliamentary process provides an opportunity to settle competing claims surrounding the reported losses and strengthen accountability in the management of Ghana’s gold and foreign-exchange resources.

It is therefore urging Parliament to proceed with the investigation and ensure that its findings provide clear answers to four key questions: what happened, why it happened, who bears responsibility and what measures are required to prevent a recurrence.